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Associated Press
China targets Europe's farmers, and not its automakers, in response to EU tariffs on electric cars
The Chinese government is taking aim at European farmers instead of German automakers by launching an investigation into European Union pork imports, just days after the EU said it plans to impose provisional tariffs on China-made electric vehicles. The Commerce Ministry didn't mention the EV tariffs when it announced Monday that it is opening an anti-dumping investigation into pork from Europe, but the move is widely seen as a response to the EU move on electric cars.
CNN
Judge orders railway to pay Washington tribe nearly $400 million for trespassing with oil trains
BNSF Railway must pay nearly $400 million to the Swinomish Tribe for repeatedly running 100-car trains carrying crude oil across the tribe’s reservation.
Reuters
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
SHANGHAI/BEIJING/BERLIN (Reuters) -Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels' curbs on exports of Chinese-made EVs, the state-backed Global Times newspaper said on Wednesday. In a closed-door meeting on Tuesday also attended by European car companies, China's auto industry "called on the government to adopt firm countermeasures (and) suggested that positive consideration be given to raising the provisional tariff on gasoline cars with large-displacement engines," according to the report. The meeting, organised by China's Ministry of Commerce, was held in Beijing and attended by SAIC, BYD , BMW, Volkswagen and its Porsche division, two people with direct knowledge of the matter said.
Associated Press
Fisker files for bankruptcy protection, the second electric vehicle maker to do so in the past year
Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers beyond the early adapters of the technology. Fisker Group Inc. said in a filing with the U.S. Bankruptcy Court in Delaware that its estimated assets are between $500 million and $1 billion. “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” the company said in a prepared statement late Monday.
Reuters Videos
Tesla begins legal bid to OK Elon Musk's mega-pay
STORY: Tesla has begun the legal battle to get approval for Elon Musk’s $56 billion pay deal. Shareholders last week approved the package - a record sum in U.S. corporate history. But the firm still has to convince the court that first voided the payout. Delaware judge Kathaleen McCormick ruled that the process leading up to package had been controlled by Musk. She said Tesla also concealed from shareholders key details about the targets he had been required to hit. Now the EV maker says it has fixed those problems. Besides the vote, the pay deal was reviewed by a special committee of the board, and the firm has provided hundreds of pages of added information. Though the sum seems enormous, WealthWise Financial boss Noreen Gilbert says Musk should have been paid: “The pay package had actually been agreed upon years prior, based on metrics that Elon Musk had to make good on, and he had made good on all of those metrics. So the fact is he should have been paid that amount, he jumped through all the hoops to make that happen”. Tesla has now written to judge McCormick, asking that parties to the legal dispute over the pay now set out their takes on the shareholder approval. One shareholder who brought the case against the package has already said he thinks the vote has “no legal effect”.
Simply Wall St.
SGX Dividend Stocks Spotlight Featuring Aztech Global And Two Others
Amidst the evolving landscape of digital currencies and the heightened focus on wholesale central bank digital currencies (CBDCs), Singapore's market is poised to reflect these global financial shifts. As investors navigate this changing terrain, dividend stocks like Aztech Global continue to draw attention for their potential stability and yield in a dynamic economic environment.
GOBankingRates
I’m a Retirement Expert: Why You’ll Regret Putting Too Much Money in Your 401(K)
Saving for retirement is non-negotiable and a 401(K) is an excellent tool for building a sizable nest egg and securing your financial future. However, too much of a good thing has its downsides, and...
GOBankingRates
6 Remote Jobs That Can Help Retirees Supplement Social Security
Hanging up your career and retiring does not negate you from needing money to live in your golden years. Retirees, now more than ever, are looking for ways to supplement their Social Security income...
Reuters
Oil settles over 1% higher on mounting tension in Europe, Mideast
HOUSTON (Reuters) -Oil settled more than 1% higher on Tuesday due to escalating geopolitical risk in Europe and the Middle East, where wars continue to threaten global supply. "Everywhere you look the geopolitical risk factor is very high," Price Futures Group's Phil Flynn said.
Reuters SG
UPDATE 1-Singapore's May exports down 0.1% y/y, better than forecast
Singapore's non-oil domestic exports edged down 0.1% in May from the same month a year earlier, data on Tuesday showed, with electronics exports growing for a second straight month, Enterprise Singapore said in a statement. The almost flat result compared with a Reuters poll forecast of a 1.0% fall, and followed a downwardly revised 9.6% drop in April. Non-oil exports to Singapore's top markets as a whole grew in May.
The Guardian
Workers at Premier Inn owner protest at AGM against plans to cut 1,500 jobs
Unite union also considering employment tribunal claims for unfair dismissal against Whitbread
Reuters
Philip Morris suspends nationwide sales on Zyn.com after D.C. subpoena
Philip Morris bought Swedish Match in a $16 billion deal in 2022 as the company looked to reduce its reliance on cigarettes amid stricter regulations, and a consumer shift towards alternatives to tobacco and traditional cigarettes. The company said that Swedish Match North America had received a subpoena from D.C.'s Attorney General requesting information about its compliance with D.C.'s 2022 ban on the sale of all flavored tobacco.
Oilprice.com
Europe Aims to Reduce Reliance on China for Critical Minerals
Europe is intensifying its efforts to explore and develop rare earth metals production within its borders, aiming to reduce reliance on China and enhance energy security during the green transition.
Reuters
Beijing urges Britain to stop sanctioning Chinese firms over Russian links
China's commerce ministry said on Wednesday that it had urged Britain to stop sanctioning Chinese firms after the country sanctioned five Chinese companies over their links to Russia. Britain last week imposed its first sanctions targeting vessels in Russian President Vladimir Putin's "shadow fleet" that it said was used to circumvent Western sanctions on the trade in Russian oil.
South China Morning Post
Chinese EV makers, suppliers risk dent to global stature in price war, Bosch exec warns
German automotive supplier Bosch has issued a stern warning to Chinese electric vehicle (EV) makers that an escalating price war would not only hurt their profitability but also dent their stature as global industry leaders. David Xu Daquan, president of Bosch China, told reporters at a media briefing on Tuesday that he had made a proposal to Chinese President Xi Jinping to create a fair and orderly market-based mechanism to avoid cutthroat competition among the country's carmakers and supply-ch
Zacks
3 Oil & Gas Pipeline Stocks Benefiting From Industry Prosperity
Having a huge backlog of growth projects, midstream players secure additional cashflows, thereby brightening the outlook for the Zacks Oil and Gas - Pipeline MLP industry. Some of the frontrunners in the industry are Enterprise (EPD), Energy Transfer (ET), and Plains All American Pipeline (PAA).
Reuters
EU subsidy probe cools China EV sector's will to invest in Europe, survey finds
The European Union's anti-subsidy investigation into Chinese electric vehicles has cooled Chinese firms' EV sales and harmed their confidence in investing in Europe, a survey of Chinese EV companies showed on Wednesday. Some 82% of vehicle and industry chain firms said the subsidy investigation had eroded their confidence in investing in Europe in the near future, the survey by the China Chamber of Commerce to the EU and the China Economic Information Service showed. The poll, conducted in April and May, was part of a report on Chinese EV manufacturers and Europe.
The Telegraph
Green aviation targets driving cooking oil fraud at ‘mass scale’
Net zero targets aimed at encouraging airlines to use so-called green aviation fuel are driving fraud “at a mass scale”, campaigners claim.
Variety
Adobe Sued by U.S. Government for Allegedly Making Canceling Online Subscriptions ‘an Obstacle Course’
Steps that Adobe allegedly took to make it hard to cancel online subscriptions weren’t just annoying — they were illegal, according to the U.S. government. The U.S. Justice Department and the FTC filed a lawsuit Monday against Adobe and two of its execs, alleging that they imposed a hidden early termination fee on millions of …
South China Morning Post
China's Realme apologises after armed robbery of flagship smartphones shipment
Chinese smartphone maker Realme apologised to consumers for possible delays of its latest handset because the devices were stolen while in transit to Spain just a few weeks ahead of the product launch. A shipment of Realme's GT6 smartphones, which has a launch event in Italy set for Thursday, was stolen on its way to Spain "for reasons beyond our control", the company said in a statement on Friday published to its Spanish account on X, formerly Twitter. Spanish tech media Zonamovilidad.es report

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Domo Partners with phData to Support Businesses on Their AI and Data Journey

Latest stories

China targets Europe's farmers, and not its automakers, in response to EU tariffs on electric cars

Judge orders railway to pay Washington tribe nearly $400 million for trespassing with oil trains

Chinese automakers seek retaliatory tariffs on EU cars, state media reports

Fisker files for bankruptcy protection, the second electric vehicle maker to do so in the past year

Tesla begins legal bid to OK Elon Musk's mega-pay

SGX Dividend Stocks Spotlight Featuring Aztech Global And Two Others

I’m a Retirement Expert: Why You’ll Regret Putting Too Much Money in Your 401(K)

6 Remote Jobs That Can Help Retirees Supplement Social Security

Oil settles over 1% higher on mounting tension in Europe, Mideast

UPDATE 1-Singapore's May exports down 0.1% y/y, better than forecast

Workers at Premier Inn owner protest at AGM against plans to cut 1,500 jobs

Philip Morris suspends nationwide sales on Zyn.com after D.C. subpoena

Europe Aims to Reduce Reliance on China for Critical Minerals

Beijing urges Britain to stop sanctioning Chinese firms over Russian links

Chinese EV makers, suppliers risk dent to global stature in price war, Bosch exec warns

3 Oil & Gas Pipeline Stocks Benefiting From Industry Prosperity

EU subsidy probe cools China EV sector's will to invest in Europe, survey finds

Green aviation targets driving cooking oil fraud at ‘mass scale’

Adobe Sued by U.S. Government for Allegedly Making Canceling Online Subscriptions ‘an Obstacle Course’

China's Realme apologises after armed robbery of flagship smartphones shipment